How long will it take to mine 1 ethereum?

Based on the Ethash algorithm, the successful mining on Ethereum network is valued at three Ether, plus all transaction fees and code-processing fees. But, on average, it takes about 10 minutes or more to verify and mine a block of Bitcoin transactions, whereas Ethereum’s average aims to be at around 12 seconds.

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Then, how much does it cost to mine 1 ethereum?

Nicehash charges 3% plus a 0.0001 btc service fee, that’s about $8.47, making the cost around $268.47. The value of 1 ETH is $278, so you could possibly make a small profit.

Subsequently, question is, is it hard to mine ethereum? In simple, cryptocurrency mining is a process of solving complex math problems. Intuitively, an increase in mining difficulty means it becomes harder to solve complex problems, and therefore to fewer rewards. We’re at a current peak in Ethereum difficulty due to its very high demand and popularity.

One may also ask, how much ETH can you mine in a day?

According to the current difficult level of Ethereum, which is 2418530528083430 and generates a block reward 3.00000000, you can mine 0.01071725 daily.

Is it still worth it to mine ethereum?

It means you need to buy new ASIC miner to mine Ethereum these days. However, Ethereum mining with a large GPU farm would still be profitable. If you have access to cheap electricity but might not be cost effective in the short run. Ethereum mining might still be profitable if you have access to cheap power resource.

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What is the easiest coin to mine?

 

Vertcoin. Vertcoin is also one of the easiest cryptocurrencies to mine, it is a coin that uses a Lyra2RE proof-of-work algorithm to verify transactions. Vertcoin was also designed to be ASIC resistant.

 

Is mining ethereum worth it 2019?

 

Unlike Bitcoin, Ethereum doesn’t run on Sha-256 mining algorithm. It means you need to buy new ASIC miner to mine Ethereum these days. However, Ethereum mining with a large GPU farm would still be profitable. If you have access to cheap electricity but might not be cost effective in the short run.

 

Should I mine Bitcoin or ethereum?

 

The primary functions behind Ethereum’s mining process are the same as Bitcoin. Ethereum utilizes the ethash mining algorithm rather than the SHA-256 algorithm found in Bitcoin’s mining process. Both mining processes use proof-of-work systems. Consequently, both cryptos consume large amounts of electricity when mined.

 

What is the best ethereum miner?

 

  • #1 Claymore. Claymore is one of the most efficient Ethereum mining software as it has dual Ethereum miner that lets you mine similar algorithm cryptocurrency without compromising on the hash rate.
  • #2 CGMiner.
  • #3 MinerGate.
  • #4 Ethminer.
  • #5 Geth.

 

How many ethereum are mined per day?

 

Approximately 100 000 new accounts are created per day. Most Ethereum blocks are around 2mb. A new Ethereum block is created every 14 seconds. 18 Million Ether are mined every year.

 

How long does it take to mine 1 Bitcoin?

 

Calculating the time to Mine 1 Bitcoin

On average, the time it takes for all the miner’s computational power in the world to obtain 1 BTC is 10 minutes, a figure which comes as a result of increasingly powerful machines as well as an increase in the number of mining pools.

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How much Hashrate is needed to mine 1 ETH?

 

If you want to mine 1 ETH a day you’re going to need a hashrate of 1845Mh/s and with an avg of 210mh/s per mining rig containing 7 gpu’s in the rx 470/80&570/80 series this means you would need to build 8 of these rigs at give or take $2500 each, and then have to cover another 165mh/s on a 6 gpu rig using 5x 470/80&570

 

What is the best Cryptocurrency to mine right now?

 

We’ve factored this into our consideration, but there are other reasons why a digital token may be included in the list as well.
  1. Ethereum (ETH)
  2. Ripple (XRP)
  3. Litecoin (LTC)
  4. Tether (USDT)
  5. Bitcoin Cash (BCH)
  6. Libra (LIBRA)
  7. Monero (XMR)
  8. EOS (EOS)

 

What is the smallest unit of ether?

 

The smallest unit of Ether is a Wei, with one Ether comprising of 1,000,000,000,000,000,000.

 

How many GPUs does it take to mine ethereum?

 

While the graphics processor is arguably the most important component in Ethereum mining, your system’s hardware must match certain specifications. Here’s what I recommend: For rigs of less than 6 GPUs, a 4GB RAM is required. For more than that I recommend getting an 8GB RAM stick.

 

Is mining still profitable?

 

Since then, bitcoin mining is no longer profitable for miners whose electricity costs are above 0.14 $/kWh, due to their prices falling below the marginal cost threshold. Any price below this level could create short term potential disruptions in the Bitcoin network with unpredictable consequences.

 

Can you still mine ethereum?

 

Note, currently Ethereum is running proof of work system which makes it possible to mine, but it was announced that the proof of stake system to be introduced in the future. Plan still officially remains, so Ethereum miners should be aware that it will impossible to mine once the new protocol is updated.

 

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How is Hashrate calculated?

 

How is the hash rate measured?[ ]
  1. 1 kH/s is 1,000 (one thousand) hashes per second;
  2. 1 MH/s is 1,000,000 (one million) hashes per second;
  3. 1 GH/s is 1,000,000,000 (one billion) hashes per second;
  4. 1 TH/s is 1,000,000,000,000 (one trillion) hashes per second;

 

Is Minergate safe?

 

Updated July 2018: The general consensus is Minergate is safe. No reported theft of coins has been reported in the cryptocurrency communities. Based on community feedback outlined below, if you absolutely want to use Minergate, make sure not to use it on a computer with keys or other mining data for any other program.

 

What do I need to mine ethereum?

 

Here’s everything you will need to be a successful Ethereum miner:
  1. An Ethereum wallet to hold all of your newly found currency;
  2. GPU drivers;
  3. A mining application (Claymore miner);
  4. A mining pool address if you’re going to mine within a mining pool;
  5. A graphics card (GPU) with at least 3gb of RAM;

 

Can I mine Cryptocurrency on my phone?

 

You can only do cryptocurrency mobile mining with smartphones that use Android, as it’s the only mining-friendly operating system for mobile devices. Moreover, the market is flooded with apps created for Android that allow you to mine Bitcoin directly from your smartphone. So, iOS owners can‘t do any mobile mining.

 

Does ethereum have a future?

 

According to a CoinDesk report published in Q3, Ethereum is facing challenges on all fronts. It doesn’t just have to address its scalability woes, it also has to consider its future as money. However, investors don’t seem to be immediately worried about Ethereum‘s short term future.

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